World Gold Prices

Mahawawtta · 1 World Gold Prices Fri Feb 23, 2018 4:26 pm

Mahawawtta

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Dear Friends, Pls tell me in which months that the Sri Lanka's gold price usually come down.

suku502 · 2 Re: World Gold Prices Fri Feb 23, 2018 5:42 pm

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If you want to study the price variation of gold. You have to refer forex . It shows the world market price movement.sl gold price depend on it.

chami1 · 3 Re: World Gold Prices Fri Feb 23, 2018 8:11 pm

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now gold trying to down side movement accoding to the forex....bt it can be change suddnly....soo study forex lone time that help u....bt the lowest price cant predict surly.....

suku502 · 4 Re: World Gold Prices Fri Feb 23, 2018 9:25 pm

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Yes. But long term trend is upward.if it breaks 1370 resistance level , will move to 1400.

Miss-Sangeetha

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Gold rose on Wednesday as the dollar weakened, indicating investors are starting to worry about the impact of the U.S.-China trade war on the U.S. economy, luring some buyers back into precious metals investments.

The U.S. dollar edged lower against the euro and fell to the lowest level in nearly three weeks against the risk-sensitive Aussie, as investors held off on embracing the greenback amid the latest round of tariffs by China and the United States.

Spot gold climbed 0.5 percent to $1,203.68 per ounce by 1:33 p.m. EDT (1733 GMT). U.S. futures for December delivery settled up $5.40, or 0.5 percent, at $1,208.30 per ounce.

"It appears that investors are beginning to view tariffs - while likely negative for China's exports - could also prove detrimental to the United States as well, given the disruptive impact on global supply chains," National Australia Bank economist John Sharma said.

China said on Wednesday it will not stoop to competitive devaluation of its currency, hours after it hit back with a softer punch than the one landed by the United States in an escalating tariff dispute.

Gold prices have declined about 12 percent since April, hurt by the intensifying dispute and on rising U.S. interest rates with investors buying the dollar in the belief the United States has less to lose from the dispute.

Yet on Wednesday, the U.S. dollar index fell against a basket of major currencies.

"The dollar is weaker against not just the majors. There's been some expectation about some resurgence in emerging market currencies," said David Meger, director of metals trading at High Ridge Futures. "That's supporting gold."

The weaker dollar and calming fears of an emerging market currency fallout also supported palladium, despite eased automotive demand, traders said, as the metal climbed to its highest level in five months.

Autocatalyst metal palladium added 2.4 percent to $1,033.25 per ounce, after marking its highest price since April 19 at $1,041.70.

"Used chiefly in the auto industry, palladium profited also from the relief rally enjoyed by base metals. Because platinum hardly kept pace at all, the price gap between palladium and platinum widened," Commerzbank said in a note.

Platinum gained 1 percent to $817.74 per ounce, after hitting its highest level since Aug. 13 at $823 during the session.

The spread between the two metals has increased to more than $210 from $176 a week ago.

Spot silver rose 0.8 percent to $14.24 an ounce.
Source-Reuters

kasun_gimhana · 6 Invest in Gold Tue Dec 03, 2019 1:23 pm

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I think according to current market sentiment in Sri Lanka. It is better to find a way to invest in a commodity like Gold. Because if the government continuous this tax reduction, there will be a huge budget deficit in the recurrent budget and if they finance the budget deficit by using the inflationary instrument, inflation will go beyond 7%. When inflation hit the economy exchange rate go up like a skyrocket.

Even though investment in equity is the best instrument against inflation theoretically, what happens in Srilanka is Foreign investor start to sell the investment and send their money to home countries because of exchange rate depreciation or invest in foreign exchange bonds such as panda and samurai. Unfortunately in Sri Lanka, we do not have a commodity market to invest. But I heard that Sampath bank have an instrument or serving account to invest in gold (not sure)

ThilinaM · 7 Re: World Gold Prices Tue Dec 03, 2019 3:31 pm

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@kasun - there is clear inverse relationship between gold price and stocks . this is not a good time for invest in gold. you should have done it before

Teller · 8 Re: World Gold Prices Tue Dec 03, 2019 5:21 pm

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GOLD has a chance to appreciate 12% next year as per current trend . Most analysts says Gold will be the best in 2020 among with other investments

ThilinaM · 9 Re: World Gold Prices Tue Dec 03, 2019 5:23 pm

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12% ??? there are FDs give 13.5% without additional troubles

ThilinaM · 10 Re: World Gold Prices Tue Dec 03, 2019 5:38 pm

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im not talking about normal gold appreciation. best time to purchase gold is stock market peaks if you need to gain some extra rate. when markets fall gold go up

Miss-Sangeetha

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Gold prices jumped past the $1,700 per ounce level for the first time since late 2012 on Monday, as a widening coronavirus outbreak and a plunge in crude oil hammered equities and sent investors scurrying for safe havens.

FUNDAMENTALS
* Spot gold rose 1.5% to $1,699.20 per ounce by 0054 GMT, having touched its highest since December 2012 at $1,702.45 earlier in the session.

* U.S. gold futures jumped 1.6% to $1,699.70 per ounce.
* Asian equities sank as investors fled to bonds to hedge the economic shock of the coronavirus, and oil plunged more than 20% after Saudi Arabia slashed its official selling price.

* The price of futures contracts for the S&P 500 index, a Wall Street benchmark, fell more than 4% on Sunday as off-hours trading for U.S. equity markets resumed.

* The Japanese yen jumped to a more than three-year high against the dollar, while U.S. benchmark 10-year Treasury yields fell to a record low.

* Japan's economy shrank faster than initially estimated in the fourth quarter on a bigger decline in business spending, data showed, casting a deeper shadow over the outlook as the virus hit production and heightened recession risks.

* Mainland China had 40 new confirmed cases of infections on Sunday, the National Health Commission said, taking the country's total number of confirmed cases to 80,735.

* China's exports contracted sharply in the first two months of the year while imports declined, data showed on Saturday, as the health crisis triggered by the outbreak caused massive disruptions to business operations, global supply chains and economic activity.

* The epidemic likely halved China's economic growth in the current quarter compared with the previous three months, more severe than thought three weeks ago and triggering expectations for earlier interest rate cuts, a Reuters poll found.

* Italy's markets will open as usual on Monday, but traders are expecting a wild start to the week after the government ordered a lockdown of large parts of the north of the country on Sunday, including the financial capital Milan, to fight the virus.

* Palladium fell 2.9% to $2,492.38 per ounce, while platinum was down 1.2% to $890.41

* Silver gained 0.3% to $17.37 per ounce.

Source - Yahoo.com / Reuters